This quiz works best with JavaScript enabled. Home > Indian Economy > Indian Economic Development Policy – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economic Development Policy Quiz 2 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Quotas are a tax on imported goods while tariffs specify the number of goods which can be imported. A) True. B) False. Show Answer Correct Answer: B) False. 2. Under Industrial Policy Resolution (IPR), 1956, Category II of the industrial sector includes industries jointly owned and controlled by the private sector and the state. A) True. B) False. Show Answer Correct Answer: A) True. 3. What are the years of India's 12th five-year plan? A) 1997-2002. B) 2002-2007. C) 2007-2012. D) 2012-2017. Show Answer Correct Answer: D) 2012-2017. 4. Net investment is equal to A) Gross investment +depreciation. B) Gross investment-depreciation. C) Gross investment xdepreciation. D) None of above. Show Answer Correct Answer: B) Gross investment-depreciation. 5. What is the term for a situation where the demand for labor exceeds the available supply of labor? A) Labor shortage. B) Labor surplus. C) Labor strike. D) Labor union. Show Answer Correct Answer: A) Labor shortage. 6. Which objective of planning was considered a necessity to reduce our dependence on foreign goods: A) Modernisation. B) Self reliance. C) Growth. D) All of the above. Show Answer Correct Answer: B) Self reliance. 7. When was the planning commission set up in India? A) 5th March 1951. B) 25th April 1950. C) 20th March 1951. D) 15th March 1950. Show Answer Correct Answer: D) 15th March 1950. 8. Indian economy depend on ..... secto A) Manufacturing. B) Agriculture. C) Mining. D) Production. Show Answer Correct Answer: B) Agriculture. 9. Which of the following is an example of is non durable goods? A) Milk. B) Bread. C) Both a and b. D) None of these. Show Answer Correct Answer: C) Both a and b. 10. Those goods which satisfy human wants directly are called? A) Intermediate goods. B) Capital goods. C) Consumer goods. D) None of these. Show Answer Correct Answer: C) Consumer goods. 11. British rule lasted for almost for ..... years. A) 100 years. B) 50 years. C) 200 years. D) 300 years. Show Answer Correct Answer: C) 200 years. 12. Economists identify the poor on the basis of their: A) Occupation. B) Ownership of assets. C) Income. D) Both 1 and 2. Show Answer Correct Answer: D) Both 1 and 2. 13. A situation in which more persons are employed on a job than are optimally required is:- A) Structural unemployment. B) Disguised unemployment. C) Cyclical unemployment. D) Seasonal unemployment. Show Answer Correct Answer: B) Disguised unemployment. 14. Capitalist Economy is controlled and operated by A) Private sector. B) Public sector. C) Both A and B. D) None of the above. Show Answer Correct Answer: A) Private sector. 15. The minimum calorie requirement in Rural areas to decide poverty line is A) 2100 calories. B) 2600 calories. C) 2400 calories. D) 2000 calories. Show Answer Correct Answer: C) 2400 calories. 16. What was growth in per capita income at the time of British rule A) 0.7. B) 0.5. C) 5. D) 10. Show Answer Correct Answer: B) 0.5. 17. In which of the following type of economy are resources owned privately and the main objective behind economic activities is profit-making? A) Capitalist. B) Socialist. C) Mixed. D) Global. Show Answer Correct Answer: A) Capitalist. 18. Classification of goods depend on the A) Consumption of goods. B) End use. C) First use. D) None of these. Show Answer Correct Answer: B) End use. 19. MGNREGA was launched in the year ..... A) 2000. B) 2005. C) 2006. D) 2004. Show Answer Correct Answer: C) 2006. 20. The division of money into M1, M2, and M3 is based on A) Assets. B) Supply. C) Amount in circulation. D) Liquidity. Show Answer Correct Answer: D) Liquidity. ← PreviousNext →Related QuizzesIndian Economic Development Policy Quiz 1Indian Economic Development Policy Quiz 3Indian Economic Development Policy Quiz 4Indian Economic Development Policy Quiz 5Indian Economic Development Policy Quiz 6Indian Economic Development Policy Quiz 7Indian Economic Development Policy Quiz 8Indian Economic Development Policy Quiz 9Indian Economic Development Policy Quiz 10Indian Economic Development Policy Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books